Bitmine Immersion Technologies bought 32,447 Ether (ETH) last week for roughly $81 million, its largest weekly purchase since early July, lifting holdings to 5.85 million tokens.
Key Points:
- Bitmine added 32,447 Ether over the past week, its biggest weekly buy since early July.
- The company now holds 5,847,611 tokens, equal to about 4.8% of Ethereum's supply.
- Tom Lee said Ether's 30% weekly gain matched two earlier surges that preceded far larger rallies.
Bitmine Buys 32,447 Ether Tokens
The Norwalk, Connecticut, company announced the purchase on Monday, putting its total at 5,847,611 tokens as of Saturday, when Ether traded near $2,440.
At that price the stash was worth about $14.3 billion, up some $3 billion in a week. Shares climbed 3.5% in premarket trading Monday as Ether pushed past $2,500, up from about $1,900 last Wednesday.
The holding equals 4.8% of Ethereum's 120.7 million token supply, or 97% of the way toward a target the company calls the "Alchemy of 5%." Reaching that mark would take close to 6.04 million tokens, leaving Bitmine roughly 187,000 short after 14 months of weekly buying that the company says it has never interrupted.
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Tom Lee Ties Buying To Ether Rally
Tom Lee, the firm's chairman, framed the purchase against a 30% weekly gain in Ether, the steepest since May 2025. He said the only comparable weeks came in July 2021 and May 2025, and that Ether rose 167% and 170% in the stretches that followed. Historical patterns carry no guarantee of a repeat.
Lee credited easing financial conditions, Wall Street's push into tokenization and the prospect of AI agents transacting on blockchains, and he expects those forces to lift Ether against Bitcoin (BTC). He compared the setup to earlier cycles driven by initial coin offerings, nonfungible tokens and stablecoins, and said signals of White House support for crypto improved risk appetite.
Bitmine Staking Revenue And Buying Pace
The company has staked 5,067,309 tokens, or 87% of its Ether, a position valued near $12.4 billion and larger than any rival treasury's. Bitmine projects about $330 million in annualized staking revenue at a seven-day yield of 2.67%, a figure that moves with network conditions. That number would reach $381 million if the full treasury moved onto MAVAN, its in-house validator network.
Total crypto, cash and other holdings came to $14.9 billion, a sum that includes 210 Bitcoin, $308 million in cash and marketable securities and stakes in Beast Industries and Eightco Holdings.
Bitmine ranks second among corporate crypto treasuries, trailing only Strategy and its 840,447 Bitcoin worth roughly $70 billion.
Weekly purchases had shrunk as the goal drew closer. The company bought 10,270 tokens the previous week and 9,926 the week before that, making the latest haul more than triple its recent pace. Bitmine has added Ether every week since the strategy began on June 30, 2025.
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